Bitcoin ETFs faced a net outflow of $56.76 million, while ether ETFs enjoyed a net inflow of $12.57 million, highlighting divergent investor sentiments.
Bitcoin ETFs See Another Day of Outflows As Ether ETFs Bounce Back With $12 Million Inflow
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Bitcoin ETFs See $56.76 Million Outflow With Ether ETFs Attracting $12.58 Million Inflow
The daily trading action of crypto exchange-traded funds (ETFs) on Tuesday, Feb. 11 saw contrasting fortunes for bitcoin and ether ETFs.
Bitcoin ETFs experienced a net outflow of $56.76 million, marking the second consecutive day of withdrawals. In contrast, ether ETFs attracted a net inflow of $12.58 million, rebounding from Monday’s outflow of $22.46 million.
The major withdrawals on bitcoin ETFs happened on Fidelity’s FBTC and Franklin’s EZBC with $43.63 million and $11.03 million leaving the funds respectively. It is interesting to note that Fidelity’s FBTC also led the outflows on Monday with $136.09 million. Consequently, Fidelity’s FBTC has shed $179.72 million from its net assets.
Other contributors to the outflow on Tuesday were Invesco’s BTCO with $9.51 million, Bitwise’s BITB with $9.32 million, and Wisdomtree’s BTCW with $7.06 million. Blackrock’s IBIT continued to remain the bright spot with $23.8 million in inflows.
These two days of outflows for bitcoin ETFs have seen the value of the total net assets drop to $111.78 billion.
The narrative on ether ETFs was in contrast with a net inflow of $12.58 million which came solely via Blackrock’s ETHA, raising its net assets to $3.53 billion.
The successive outflows from bitcoin ETFs could suggest a cautious sentiment among investors, possibly due to recent market volatility.
